Tag Archive - Celtrino Platform

eBilling Can Help Solve Late Payments Issue for SMEs

Late payments in the UK

Late payments are the bane of any business. In Britain this is coming to the fore because Business and Enterprise Minister, Michael Fallon, has launched a campaign calling for large companies to improve the practice of tardy payments to small suppliers. This has also been picked up by the Telegraph who are running a campaign in conjunction with the Minister to encourage on-time payments.

Late Payments, Past Due StampLate payments to SMEs threaten their existence as cash-flow is an imperative to their survival. Small firms find themselves at the mercy of large companies who are increasing the time-frame in which they pay suppliers for work that is already completed. It is estimated by the Telegraph that £36.5 billion is due in late payments.

Latest research from the organisation reveals that smaller suppliers wait on average 41 days longer for payment than their contract stipulates. Many have to wait up to 180 days to be paid for services they provide to larger companies and the minister revealed that he had been told of one well-known company that had a payment process approaching 200 days.  (Telegraph)

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Posted on January 21, 2013 in Celtrino Express, Celtrino Platform, e-Commerce, eBilling, Electronic Billing by
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Ken Halpin Discusses the e-Invoicing [PEPPOL] Pilot Project in Public Sector Magazine Article

Have a look at Celtrino MD Ken Halpin’s latest interview in Public Sector Magazine. Ken discusses the importance of the e-Invoicing [PEPPOL] pilot project, trends in the Irish market and the company’s future plans.

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Posted on October 16, 2012 in e-Invoicing, eBilling, PEPPOL, Private Sector, Public Sector, Windows Azure by
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Dynamic Discounting / Invoice We Trust

Dynamic Discounting - Invoice We Trust

Regardless of how “good” a business may be, ultimately its fate rests on a solid cash flow. In order to continue trading, every company needs money to come in so that they can purchase raw materials, which can be processed and converted into saleable goods and in turn create more cash.

As harsh economic conditions continue to bite, businesses are delaying payment to their suppliers to moderate their own cash flow, but in doing so jeopardise the viability of the other members of their supply chain. So how does a business encourage its customers to pay on time, or better yet, early?

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Posted on September 5, 2012 in Accounts Payable, Cash Flow Management, Celtrino Platform, Smart Admin, Supply Chain by
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PDF Invoices saving you time and money? Think again!

Many providers and even some governments have been touting PDF versions of invoices as a genuine form of electronic invoicing. Whilst PDF attachments sent via email are certainly electronic, many of the benefits available through automated e-Invoicing systems are lost.

PDF Invoices saving you time and money? Think again!

A study published by AIIM (http://www.aiim.org/Research/Industry-Watch/Paper-Free-Capture-2012) reveals that PDF file attachments are in fact costing more than they are saving. How is this possible? Consider the following findings:

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Posted on April 26, 2012 in Celtrino Platform, e-Invoicing, Smart Admin by
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Business Processes Part 3 – Actions Post Implementation

Once the business case has been made for the introduction of processes and relevant systems have been identified for automation, the final stage is to implement the processes themselves. Whether the processes are for a small business, or a multinational corporation, the post implementation guidelines remain roughly the same:

Business Processes

  • Let the process grow and adapt. Process outlines which remain too rigid cannot scale as business needs change. By all means formalise the process, but allow the opportunity for future organic change and enhancements.
  • Involve others in process creation and implementation creating a shared ownership and common vision for improvement. Doing this will also overcome many of the political barriers which could otherwise prevent process realisation.
  • Maintain a culture of continual improvement. There is always room for the creation of new processes or the refinement of existing ones. Incremental changes will keep processes relevant to business needs and prevent them from becoming a hindrance in future.

Any process, internal or external, can help a business increase its levels of efficiency, but attempting a one-time, big-bang implementation is unlikely to have the permanent benefits desired. Processes need to be frequently revisited to allow for the identification of smaller improvements which will keep the process relevant. Changes in business model, customer demands or supplier will all necessitate changes to business processes – inflexible and infrequent analysis of processes will preclude this.

The responsibility for implementation of processes generally lies with management, but ultimately, all staff should be encouraged to participate in a continual process improvement.

Processes can exist as part of a supply chain management system, or as an internal operating procedure.  The scope is virtually limitless. Clearly, where computerised automation is required, a suitable platform will need to be sourced which provides the necessary framework in addition to flexibility for future refinements. Why not give Celtrino a call to discuss the Smart Admin platform and how it could help with your business process implementation projects?

 


Posted on April 5, 2012 in BPO, Business Process Automation, Business Process Outsourcing, Supply Chain, Supply Chain Management by
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Electronic Ledger Alignment and Cash Flow Management – via Cloud Computing

The below describes an original, cost effective way to improve your organisation’s cash flow by implementing electronic general ledger accounting software in the cloud.

As always, if you have any questions, feel free to drop us an comment, tweet or e-mail and we’ll be sure to get back to you.

 


Posted on December 8, 2011 in Cash Flow Management, Celtrino Platform, Cloud Computing, Electronic Ledger Alignment, Supply Chain Management by
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Key People in the Supply Chain

The strength of any supply chain is the people involved. There are people on the assembly making goods, other people deliver those goods to customers, and yet more people complete the required administration at each part of the process. By their very presence it is obvious that everyone in the supply chain is vital. However as with any chain, the supply chain is only as strong as weakest link. In the supply chain the weakest link is almost invariably the people.

Often, breaks in the supply chain are accidental or caused by a lack of personal ownership, as with the ‘Dockets in Pockets’ syndrome. Employees regard their responsibilities in isolation, failing to recognise that their casual negligence can have much wider implications for the business as a whole.Chain

Other times supply chains grind to a halt because a key staff member is away on annual leave and the employees operating in their absence lack the required skills or training to complete the job accurately. Tasks are then either left undone or done incorrectly, increasing the time and effort required to rectify the situation. Delays in the supply chain cause delays in payment, reducing cash flow and negatively affecting future transactions.

Occasionally issues can be caused by a disgruntled employee using their knowledge to maliciously damage the chain and their employer’s business. Feeding deliberate misinformation, or obstructing certain key transactions and interactions can have a major impact on a company and the other businesses in their supply chain.

So although everyone is key to the supply chain, they also have the potential to introduce significant problems into the process too. The solution is to automate as many of these links as possible, reducing the chances of introducing operator error into the chain and keeping each transaction moving as smoothly as possible. Using the principles of Business Process Outsourcing and Supply Chain Management, many of these potential people-related problems can be avoided, increasing efficiencies, reducing costs and allowing employees to focus on doing their jobs, rather than on administration.

And although costs savings can be made within a single business, the benefits can be shared up and down the supply chain by implementing a suitable hosted system which can be accessed by them all. Celtrino’s Smart Admin platform provides an interface for businesses at every point in the supply chain through which they can automate many of their transactions.

People will always be key to the supply chain, but there is no harm in investing to reduce manual administration and human error.

 


Posted on November 23, 2011 in BPO, Business Process Outsourcing, Cash Flow Management, Smart Admin, Supply Chain, Supply Chain Management by
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Document Tourism

What?

Document Tourism is a phrase we use to describe the process whereby a particularly important piece of paperwork “goes round the houses” upon receipt because it lacks certain critical information. The best way to explain the concept is with an example:

A Purchase Order arrives by post at the Supplier’s office. The document is directed to the Accounts Payable department via internal mail ready for processing. However as the clerk begins to enter the Purchase Order onto the in-house accounts system, he notes that the requisite purchase order is missing. Document Tourism

At this point the clerk must contact the account manager for the client and pass the incomplete purchase order back to them for follow-up. The account manager will almost certainly have to send a copy of the faulty document back to their contact at the purchasing company (physically or electronically) so that an amended version can be sent back. Depending on the complexity of the purchasing and payment procedures in place at the buying or selling company, there may well be several more steps involved.

So?

Just like a tourist on a hop-on hop-off bus service, the document travels around several locations, spending varying amounts of time in each location as it makes its way back up the supply chain. Just like a traveller, every stop takes time and therefore costs money (although purchase orders don’t have to buy a coffee at every stop).

Each step in obtaining the missing data results in a delay, and if time is money (which it is), every stop on the trip costs the Supplier.

Touchless to the rescue

The way to resolve similar problems is to implement a data verification gateway, preventing incomplete forms and documents from entering the supplier’s system. Known as “Touchless Systems”, presentation of purchase orders are presented electronically, sent directly from the buyer’s accounts system to the supplier’s electronically.

Taking the example of the missing purchase order number, the document leaves the buyer’s accounts department and is checked for data integrity as it reaches the supplier. If anything is found to be incomplete, the purchase order is immediately rejected and the buyer is notified. Both buyer and supplier benefit from automated processing in this way because less time is wasted by physically passing documents for manual correction.

Touchless processing immediately cuts out the problem of document tourism as there is only ever one stage in passing information back to a buyer in the event of an incomplete request. The savings of time, effort and money will grow exponentially as fewer and fewer documents require manual correction.

For more about touchless systems and how Smart Admin could help prevent document tourism within your organisation, please get in contact.


Posted on November 18, 2011 in Accounts Payable, Business Process Automation, Order Management Processing, Purchase Order Capture Automation, Supply Chain Management by
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UniPhar Group nominated for “Best Use of Technology in Procurement” at The 2011 National Procurement Awards!

The National Procurement Awards 2011There is always a strong sense of pride when one of your customers is nominated by their peers for a best-in-class award at an annual gathering of industry experts. The sense of pride is in part a vindication that your customer chose well in selecting you to deliver such a strategically important solution, also as we delivered what the customer wanted on time and budget and finally, a well-deserved feeling of confidence in a job well done.

Tonight, at the National Procurement Awards, Uniphar is nominated in the category for ‘Best Use of Technology in Procurement.’ Uniphar has been nominated for its Link service and it is testament to its success as it has been live just over one year. The web-based customer portal enables Uniphar Group to manage all interactions with member pharmacies from a single central point. The pharmacies can place orders online at any time, view up-to-date orders, process invoices and other key information.

Uniphar LinkTom McKenna who is the Commercial Director at Uniphar Wholesale puts everything in context when he says, “Identifying that a large group of independent pharmacies buying together could get the same type of purchasing discounts as a chain – that is not innovation, it is just plain economics. Where the innovation lies is in creating a procurement system that will save pharmacy managers time and effort, as well as money.”

As the clock ticks down to the ceremony tonight, we wish Tom and his team every success and do hope that they pick up the top award. It would be the icing on the cake to a job well done!


Posted on November 17, 2011 in Announcements, Cloud Computing, eProcurement, Integrated Supply Chain Management Platform, Pharmacy Sector, SaaS by
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Supply chain automation made easy

“(…) time taken to switch all your paper-based transactions to the platform is minimal. Supplier ‘on-boarding’, as it’s termed, just isn’t an issue.” – have a read of my interview with Malcolm Wheatley in the May edition of The Manufacturer.


Posted on October 27, 2011 in Celtrino Platform, Supply Chain Automation, Supply Chain Document Automation, Supply Chain Integration, Supply Chain Performance by
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